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Self employed
Hi RSC1925m,
Hope your day is going good :)! If those resale items amount to more than $600, you'll receive a 1099. You'll then have to report it as hobby income or business income depending on the nature of your sale transaction.
If it is a hobby, then the income will be reported on Schedule I, Line 8, not subject to self-employment taxes. You will not be able to claim expenses. If it is a business, then you will report the income on Schedule C along with the related expenses and any net profit, will be subject to self-employment tax.
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‎August 31, 2022
5:15 PM